30 August 2012 - A new report by consultants Frost & Sullivan has predicted that the global waste electronic recycling market is expected to grow by as much as a third by 2017, reaching around £1.2 billion.
The waste electrical and electronic equipment (WEEE) sector is reportedly “rising from its own ashes” after experiencing a slump as a result of the global economic downturn.
Thanks in part to Governmental initiatives such as the WEEE EU Directives, it is estimated that this market will grow by 4% per year over the next five years, with strong growth expected in North America.
Furthermore, EU member countries are now required to recover 45 tonnes of e-waste for every 100 tonnes of electrical goods sold by 2016.
Despite these positive predictions of the industry however, the report has warned that growth is still threatened by certain issues.
A Frost & Sullivan spokesman explained: “One of the main reasons that the WEEE Directive has not met with unqualified success despite the significant amount of support it has received is the ineffective implementation of legislation.
He added: “Some of the key countries such as the UK, for instance, have had significant problems in its implementation in the first place due to the difficulty in assigning ‘producer responsibility’ as stipulated by the legislation.”